Process and product for determining an amount of posting payment

ABSTRACT

Products and processes are provided in which information is received about a post for an item to be sold. The information may include, e.g., the class and type of item being sold, the reputation of a seller, a floor price below which the item will not be sold, a condition of the item and peripherals included with the item. Based on the received information, a posting payment amount is determined.

CROSS-REFERENCE TO RELATED APPLICATIONS

The present application is a divisional application of U.S. patentapplication Ser. No. 10/189,310 filed Jul. 2, 2002, which is acontinuation-in-part of U.S. patent application Ser. No. 09/285,472,filed Apr. 2, 1999, now U.S. Pat. No. 6,415,264, the entirety of whichare incorporated herein by reference.

BACKGROUND OF THE INVENTION

The present invention relates to the sale of products. In particular,the present invention relates to a system and method for determining aposting payment amount.

In various types of commerce and other transactions, products (e.g.goods, services and/or opportunities) are advertised, or “posted”, on aWeb site or other medium. One type of transaction is an advertisement oroffer of a product for sale. The product may be advertised for sale at afixed price or some other price, such as a price that is set to be thehighest amount bid by a bidder in an auction.

Other types of transaction include, but are not limited to, (i) a resumedisplayed, e.g., on a web site to solicit job offers or jobopportunities for a person; (ii) a personal description displayed, e.g.,on a web site to solicit dates and other personal interaction for aperson; and (iii) feedback or opinions made available, including but notlimited to personal opinions of previously purchased products, orpersonal opinions of others with whom business has been conducted.

In such systems it can be advantageous to encourage the posting of aproduct, such as an item for sale, a resume, a personal description oropinions.

BRIEF DESCRIPTION OF THE DRAWINGS

FIG. 1 is a block diagram overview of a system for determining a postingpayment amount according to an embodiment of the present invention.

FIG. 2 is a block schematic diagram of the posting site device shown inFIG. 1 according to an embodiment of the present invention.

FIG. 3 is a tabular representation of a portion of the seller databaseshown in FIG. 2 according to an embodiment of the present invention.

FIG. 4 is a tabular representation of a portion of the item databaseshown in FIG. 2 according to an embodiment of the present invention.

FIG. 5 is a tabular representation of a request to sell portion of theposting database shown in FIG. 2 according to an embodiment of thepresent invention.

FIGS. 6A and 6B are tabular representations of a condition of item sheetportion and a condition pricing table of the posting database shown inFIG. 2 according to an embodiment of the present invention.

FIG. 7 is a tabular representation of a peripheral pricing portion ofthe posting database shown in FIG. 2 according to an embodiment of thepresent invention.

FIG. 8 is a tabular representation illustrating a relationship betweenfloor prices, previous posting information, and posting payment amountsaccording to an embodiment of the present invention.

FIG. 9 is a flow chart illustrating a method for receiving a request tosell an item according to an embodiment of the present invention.

FIG. 10 is a flow chart illustrating a method for determining a postingpayment amount according to an embodiment of the present invention.

DETAILED DESCRIPTION OF THE INVENTION

The present invention is directed to products and processes fordetermining a posting payment amount, which is an amount to pay inexchange for a post, including but not limited to a posting of an itemfor sale, a resume or a personal description. Turning now in detail tothe drawings, FIG. 1 is a block diagram overview of a system fordetermining a posting payment amount according to an embodiment of thepresent invention. The system includes a number of seller devices 110and buyer devices 120 coupled to a posting site device 200 through acommunication network 100. The seller devices 110 and the buyer devices120 may be, for example, Personal Computers (PCs), Personal DigitalAssistants (PDAs), wired or wireless telephones, or any otherappropriate communication device. The communication network 100 may be,for example, a Local Area Network (LAN), a Wide Area Network (WAN), awireless network, a Public Switched Telephone Network (PSTN), or anInternet Protocol (IP) network such as the Internet, an intranet or anextranet. In one embodiment, seller PCs and buyer PCs may communicatewith a Web-based posting site server through the Internet 100.

According to an embodiment of the present invention, the posting sitedevice 200 determines a posting payment amount based on informationreceived about a post for an item to be sold. Consider a seller whowishes to sell an item. As used herein, an “item” may comprise, forexample, any good or service, such as a second-hand consumer electronicdevice. Other examples of items include hotel rooms, car rentalservices, concert and other event tickets, new merchandise, andsecond-hand products, such as collectibles.

The seller may use a seller device 110 to send, through thecommunication network 100, information about the item to be sold. Theseller may transmit to the posting site device 200 one or more of: theseller's identity; the type of item to be sold; the condition of theitem; peripherals included with the item; and a “floor price,” i.e., aprice below which the item will not be sold.

According to an embodiment of the present invention, the posting sitedevice 200 determines, based on the received information, a “postingpayment amount.” As used herein, a “posting payment amount” maycomprise, for example, an amount of money to be paid to the seller inreturn for posting the item to be sold.

According to other embodiments of the present invention, the postingpayment amount may be negative, that is the seller may pay money to theposting site in return for posting the item, or may comprise a series ofpayments, such as payment for every ten bids received for the item.

If the posting site wishes to encourage posts for a certain type ofitem, the posting payment amount may be based on the type of item beingsold. For example, to promote posts for cameras, the posting site devicemay determine higher posting payment amounts for cameras and lowerposting payment amounts for e.g. computer equipment.

The posting site may offer a posting payment amount to someone inexchange for posting feedback. For example, a posting payment amount maybe offered in exchange for posting feedback regarding (i) a previouslypurchased product, (ii) a buyer to whom something has been sold, and/or(iii) a seller from whom something was purchased.

In various embodiments, it can be advantageous to offer a postingpayment amount in exchange for posting feedback. For example, paying inexchange for posting feedback can reduce or eliminate statistical biasin the feedback that is provided.

If people are allowed to submit feedback but are not compensated whenthey do so, certain types of feedback (e.g. extremely positive orextremely negative) are more likely to be offered, while other types offeedback (e.g. neutral, weakly positive or weakly negative) are unlikelyto be provided without some compensation. In addition, if people areallowed to submit feedback but are not compensated when they do so, lessfeedback will be posted, and the same small subset of people will tendto provide such feedback.

The posting site may offer a posting payment amount to someone inexchange for providing information regarding what the person has thatmay potentially be auctioned, sold or posted. For example, a person maybe provided with a posting payment amount in exchange for posting a listof three items owned by the person, or a list of four items the personis willing to sell.

In one embodiment, there are restriction on what qualifies for payment.For example, (i) information regarding at least a minimum number ofitems may be required; (ii) at least a minimum estimated sale value ofthe items in aggregate, or of each item, may be required; (iii) the itemmust have a certain minimum condition; (iv) item must be available forimmediate sale or sale before a certain time; and/or (v) the item mustnot be of a certain type (e.g. tobacco, firearms, illegal substances).Many other restrictions will be apparent to those of ordinary skill inthe art.

In one embodiment, the posting site presents a list of desired items,and the person is prompted to select which, if any, the person possessesthat may potentially be auctioned, sold or posted. In one embodiment,the posting site allows the person to otherwise indicate the desireditems the person possesses that may potentially be auctioned, sold orposted. For example, various Web pages may indicate items posted byothers. Such Web pages may include graphical controls (e.g. buttons,hyperlinks) which allow the person to indicate that the item on the Webpage is similar or identical to an item the person possesses that maypotentially be auctioned, sold or posted.

Payment for providing information may be provided at various times, forexample after such information is provided, after such information isverified, after the product is posted, and/or after the product is sold.

The amount of the posting payment amount which is provided in exchangefor information may be based on, e.g., the characteristics of the item,as described herein.

The posting site may offer a posting payment amount to someone inexchange for a commitment to post subsequently. Various restrictions maybe applied, such as requiring (i) at least a minimum number of posts,(ii) posts of only certain types (e.g. posts for books for sale), (iii)posts within a certain period of time, and (iv) posts of items for salefor at least a minimum price.

The posting site may also monitor for compliance. For example, if twoposts within six months was required of a person, the posting site maydetermine whether the person provided two posts within six months.Noncompliance may result in various penalties, including but not limitedto financial penalties charged to the person, preventing the person fromposting, preventing the person from using the posting site, preventingthe person from performing certain functions on the posting site, and/orproviding third parties with an indication of the person'snoncompliance.

The posting site may offer a posting payment amount to someone inexchange for using a preferred method of payment, such as payment usingan AMERICAN EXPRES™ credit card or PAYPAL™.

The posting site may offer a posting payment amount to someone inexchange for posting a resume with certain characteristics, such asparticular job skills or job experience. Similarly, the posting site mayoffer a posting payment amount to someone in exchange for posting, witha dating service, a personal profile that includes certaincharacteristics, such as a predetermined income or marital status. Theposting site may employ various means for ascertaining whether theposting is inaccurate or untruthful, and reduce or withhold paymentaccordingly. For example, the posting site may solicit feedback fromothers regarding the accuracy or veracity of posted information.

The posting site may offer a posting payment amount to someone inexchange for posting a predetermined number of posts (e.g. at leastfifty posts) and/or within a predetermined time period (e.g. withinthree months).

According to another embodiment of the present invention, the postingsite may want to encourage sellers to use reasonable floor prices. Forexample, if a floor price is too high, the item may never be sold andthe posting site will not collect a commission. Therefore, the postingsite device 200 may offer a higher posting payment amount if the sellerhas selected a reasonable floor price. Similarly, the posting sitedevice 200 may use other parameters to determine a posting paymentamount, such as a profit to be made by the posting site if the item issold.

According to another embodiment of the present invention, the postingsite may base the posting payment amount on previous posts provided bythe seller. For example, the posting payment amount may be determinedbased on: how quickly items previously posted by the seller have beensold; the number of the seller's pending or current posts; or the numberof bids submitted in response to the seller's previous posts. Thereputation of the seller may also be used to determine the postingpayment amount, according to another embodiment of the presentinvention.

In accordance with the present invention, the information about the postfor the item to be sold may include account information such as afinancial account identifier that identifies an account of the seller tobe credited or debited. For example, the seller may provide credit,debit, Automated Teller Machine (ATM), or “smart” card information tothe posting site device 200. This information can then be used toelectronically provide the posting payment amount to the seller. Theposting payment amount may be provided to a seller, for example, whenthe item is posted, when a bid is received for the item, or when theitem is sold.

In an alternate embodiment the payment posting amount may be provided toa party other than the seller. In such an alternate embodiment, theseller provides to the posting site a financial account identifier thatidentifies an account of a party other than the seller. The other partymay comprise an individual or an organization such, as a charity, whomthe seller desires to benefit from the sale of the item. For somesellers, the benefit to the other party is just as motivating, or moremotivating than a comparable benefit to themselves.

According to another embodiment of the present invention, thedetermination of a posting payment amount may be “automatically”performed by the posting site device 200. As used herein, the terms“automatic” and “automatically” refer to actions that are not performedin an entirely manual way. According to another embodiment of thepresent invention, the determination may be made manually, on an ad hocbasis, by an operator of the system. According to still anotherembodiment of the present invention, the determination may be“dynamically” performed by the posting site device 200. As used herein,the terms “dynamic” and “dynamically” refer to actions that areperformed in substantially real-time.

When a seller agrees to post an item to be sold, the posting site device200 makes the post known to potential buyers (e.g. by displaying via abuyer device). The posting device 200 may eventually arrange to the sellthe item to a buyer that views the post using a buyer device 120. If so,the posting site device 200 can credit the seller's accountappropriately and retain a commission. If desired, the posting paymentamount may be deducted from the sale price or floor price. By way ofexample only, the posting site device 200 may pay to the seller one of:a winning bid amount; the bid amount minus the posting payment amount; afloor price; the floor price minus the posting payment amount; the floorprice plus a percentage of the difference between the floor price andthe bid amount; and the floor price, plus a percentage of the differencebetween the floor price and the bid amount, minus the posting paymentamount.

FIG. 2 is a block schematic diagram of the posting site device 200 shownin FIG. 1 according to an embodiment of the present invention. Theposting site device 200 includes a processor 220 coupled to: a clock260; a network communication port 250—which in turn is coupled to anetwork; and “memory units” comprising a Random Access Memory (RAM) 230and a Read Only Memory (ROM) 240. An input device 270, an output device280 and a storage device 290, such as a hard disk, are also coupled tothe processor 220.

The memory units 230, 240 and/or the storage device 290 may storeinstructions adapted to be executed by the processor 220 to perform atleast one embodiment of the present invention. For example, wheninformation about a post for an item to be sold is received through thecommunication port 250, the memory units 230, 240 and/or the storagedevice 290 may store instructions adapted to be executed by theprocessor 220 to determine, based on the received information, a postingpayment amount. Note that, as used herein, information may be “received”by, for example: (1) the posting site device 200 from a seller device110; or (2) a software application or module within the posting sitedevice 200 from another software application or module within theposting site device 200, or from any other source.

For the purposes of this application, the memory units 230, 240 andstorage device 290 could include any medium capable of storinginformation and instructions adapted to be executed by a processor. Someexamples of such media include, but are not limited to, floppy disks,CD-ROM, magnetic tapes, hard disks, and any other device that can storeinformation, such as digital information. In one embodiment,instructions are stored on the medium in a compressed and/or encryptedformat. As used herein, the phrase “adapted to be executed by aprocessor” is meant to encompass instructions stored in a compressedand/or encrypted format, as well as instructions that have to becompiled or installed by an installer before being executed by theprocessor.

As shown in FIG. 2, the storage device 290 contains a seller database300, described in detail with respect to FIG. 3. The storage device 290also contains an item database 400, described in detail with respect toFIG. 4, and a posting database 500, described in detail with respect toFIGS. 5, 6A, 6B and 7.

A more detailed description of one embodiment of the present inventionwill now be provided. As will now be described, information, such as thetype of item being sold, the reputation of the seller, the condition ofthe item, and any peripherals included with the item, may be used todetermine an appropriate posting payment amount. It will be apparent tothose skilled in the art, however, that other values and embodiments maybe implemented instead.

According to this embodiment, the posting site device 200 transmits ablank electronic Request To Sell (RTS) form to a seller device 110through the communication network 100. The seller, using the sellerdevice 110, enters information about a post into the RTS form andreturns the form to the posting site device 200 through thecommunication network 100. The RTS form may be, for example, an HTMLform transmitted through the Internet via a Web site. The completed RTSform may include the seller's identity, such as a user IDENTIFIERnumber, and the type of item being sold, such as “camera.” The type ofitem being sold may further include an item “class” and “type,” such as,for example, that the “camera” (class) being sold is made by aparticular manufacturer (type). Further information regarding the itemmay be entered into the form as well.

The RTS may also include the seller's name and address, telephone numberand a credit card number (or other means to provide funds to the sellerand/or receive funds from the seller. If desired, the posting sitedevice 200 can validate the corresponding credit card account beforecontinuing the process. The credit card can be used to electronicallycredit posting payment amounts and sales, and to debit commissions,authentication charges, penalties and fees (such as shipping andhandling fees) as desired.

The posting site device 200 then transmits a blank electronic Conditionof Item Sheet (CIS) to the seller device 110. The CIS may ask theseller, for example, the condition of the item being sold (such as“mint,” “good” or “poor”) and what peripherals are included with theitem. Note that the particular CIS may be selected based on the type ofitem described in the completed RTS form. For example, if the RTS formindicates that a camera is being sold, the CIS might request informationregarding whether a zoom lens or a camera case is included along withthe camera.

Based on the information received from the seller, i.e. on the RTS formand/or the CIS, the posting site device 200 can determine a reputationassociated with the seller, such as by sending a query to the sellerdatabase 300. FIG. 3 is a tabular representation of a portion of theseller database 300 shown in FIG. 2 according to an embodiment of thepresent invention. As shown in FIG. 3, the seller database 300 hasmultiple data categories. For example, the seller database 300 mayinclude a name 310 and a credit card number 320 associated with theseller. The credit card number allows the seller to easily receive theposting payment amount and/or proceeds from a sale. The seller database300 may also include a number of satisfied buyers 330, a number ofunsatisfied buyers 340 and a reputation percentage 350.

The first seller that is represented in FIG. 3 has completed nineteensales with only a single unsatisfied buyer and is assigned a reputationof 94.7% as follows:100*(number of satisfied customers)/(total number of sales)On the other hand, the second seller has completed eight sales with twounsatisfied buyers and is assigned a reputation of 75%. In this case, ahigher posting payment amount may be offered to the first seller ascompared to the second seller, even when both are selling identicalitems. Moreover, the reputation of a seller may change the final sellingprice of an item—a seller with a poor reputation may receive few offers.Of course, if the seller has not previously sold an item, a new entry inthe seller database 300 can be created and a “default reputation”percentage may be assigned.

Using the information received from the seller, the posting site device200 creates an entry in the posting database 500. FIG. 5 is a tabularrepresentation of a RTS portion of the posting database 500 shown inFIG. 2 according to an embodiment of the present invention. As shown inFIG. 5, the RTS portion includes a name 510, a seller identifier 520, anaddress 530, an account identifier 540, an item identifier 550, an itemclass 560 and an item type 570.

Based on the information in the posting database 500, the posting sitedevice 200 can examine past posts for the same class and type of item,e.g. a camera made by a particular manufacturer. For example, FIG. 4 isa tabular representation of a portion of the item database 400 shown inFIG. 2 according to an embodiment of the present invention. As shown inFIG. 4, the item database 400 includes information about previous andcurrent items or posts, comprising multiple data categories 410 (such asan item identifier and class) for multiple items 420 (such as items 1through n). In this case, the value of the item to be posted can beestimated and used to determine a posting payment amount. The postingsite device 200 may estimate the value of the item based on, by way ofexample only, sales during the past year for the item, the last fifteensimilar items sold, or a trend analysis for sales of similar items.Advertisements for each item may be generated based on some of theinformation in the item database 400. For example, an HTML document maybe generated to display the item description, peripherals and askingprice if appropriate.

The condition of an item being sold may also be used to determine theexpected value. FIGS. 6A and 6B are tabular representations of a CIStable 600 and a condition pricing table 650 of the posting database 500shown in FIG. 2 according to an embodiment of the present invention. Asshown in FIG. 6A, the CIS includes an item class 605, an item type 610,a year made 615 and an item condition 635. As shown in FIG. 6B, thecondition pricing table includes a number of condition classes andassociated price adjustments. In particular, the condition pricing tableincludes “mint” 655, “very good” 660, “good” 665, “OK” 670, “needs work”675 and “poor” 680 condition classes and associated price adjustments.For example, a camera that would otherwise be expected to sell for $100,may be adjusted to have an expected selling price of $106 if it is in“very good” condition (“+$6”). There may be different condition of itemtables for different items.

According to another embodiment of the present invention, theperipherals included with an item may be used to determine the expectedselling price and/or the posting payment amount. For example, theexpected selling price may be determined as follows:expected selling price=base price+peripheral values,where the base price is the price the item usually sells for by itself.This base price is then adjusted based on the dollar value of eachperipheral.

The condition of item sheet portion of the posting database 500 mayinclude entries related to peripherals included with the item beingsold. For example, as shown with respect to the camera in FIG. 6A, theperipherals include a case 620, a flash 625 and a tripod 630. FIG. 7 isa tabular representation of a peripheral pricing portion of the postingdatabase 500 according to this embodiment of the present invention. Theperipheral pricing table includes an item class 710, a peripheral one720, a peripheral two 730 and a peripheral three 740. Notwithstandingthe foregoing, any number of peripherals may be referenced. For example,a camera having a base price of $100 may be assigned an expected sellingprice of $130 if a case (“+$8”) and a flash (“+22”) are included.

Other values that may be used to determine the expected selling priceand/or the posting payment amount include the seller's reputation andthe number of similar items currently posted on the site. For example, agood reputation may increase the expected selling price, but a largenumber of similar items on the site may decrease the expected sellingprice.

If items in the same class, but not of the same type, have beenpreviously posted or sold, the information about other posts in thatclass can be used to determine the value of the item. If no items ofthat type or class have previously been sold, a default value set by theposting site or the seller can be used.

An item posted with a floor price that is too high is less likely tosell, and less likely to sell quickly. An item posted with a floor pricethat is too low, however, may result in a reduced sale price to theseller and a reduced commission to the posting site. Therefore, theposting site and the seller both benefit from a reasonable floor price.By adjusting the posting payment amount, the posting site can encouragea seller to post an item using a reasonable floor price. One way thismay be done is as follows:floor price=(expected selling price)*(X%)*(Y%),where X is a percentage of the expected selling price used by theposting site to encourage people to purchase or bid for the item.Different item classes and types of items may have different values forX. Y represents a reputation score for the seller, as described withrespect to FIG. 7.

According to another embodiment of the present invention, the seller isallowed to determine the floor price. The seller, may, for example,select a floor price from a range of floor prices suggested by theposting site. In this case, different floor prices can be associatedwith different posting payment amounts.

FIG. 8 is a tabular representation illustrating a relationship betweenfloor prices, previous posting information, and posting payment amountsaccording to an embodiment of the present invention. As shown in FIG. 8,the historic sales 820 of the item indicate that similar items sell 80%of the time if the floor price 810 is set to $200. That same item maysell 65% of the time if the floor price 810 is set to $250 and 40% ofthe time if the floor price 810 is set to $300. The commissionpercentage 830 and/or the posting payment amount 840 may therefore beadjusted, based on the floor price 810 selected by the seller, toencourage a reasonable value. For example, the posting payment amount840 may be reduced from $6.25 to $2.00 if the seller insists on a floorprice 810 that significantly reduces the chance that the item will besold.

According to one embodiment of the present invention, a table such asthe one shown in FIG. 8 is displayed to the seller to allow the sellerto select his desired floor price and corresponding posting paymentamount. According to another embodiment of the present invention, theposting site device 200 lets the seller select a floor price, butsuggests, or counter-offers with, a different floor price to the seller,perhaps with a higher posting payment amount. The seller can instead begiven historical data so he can better determine a reasonable floorprice. Such services may be provided to the seller for an additionalfee, if desired.

According to another embodiment of the present invention, the systemdetermines the posting payment amount based on the expected value of theitem to be sold, without regard to the floor price. In this case, theexpected value, and therefore the posting payment amount, may or may notbe adjusted based on, for example, the type of item being sold, thevalue of similar items that have been sold, the reputation of theseller, the condition of the item and the peripherals included with theitem.

According to another embodiment of the present invention, the postingpayment amount may be a negative value. For example a seller with a poorreputation may be charged to post items for sale.

According to another embodiment of the present invention, a first-timeseller may be paid more, or less, than a seller who has posted before.Similarly, a seller that frequently posts items for sale, or thatcurrently has a large number of items posted for sale, may be paid more,or less, than a seller that infrequently posts items. A seller who hasbeen profitable for the posting site may be paid more than a seller whohas not. For example, a seller who has posted items that have soldquickly may be paid more than a seller who has posted items that havenot sold quickly or at all.

According to still another embodiment of the present invention, theposting payment amount may be determined based on the number of bidsreceived for that post, or for other posts previously submitted by theseller. For example, the posting payment amount may be $1.00 for everyone hundred bids. In this case, the posting payment amount may beincrementally paid to the seller, $1.00 at a time. Similarly, differentclasses of posting payment amounts may be created, such as: ten bids=3%increase in posting payment amount; twenty bids=5% increase in postingpayment amount.

In addition, the posting amount may be contingent on receiving a certainminimum number of bids, or minimum bid price. Similarly, it may berequired that the bids meet certain restrictions. For example, a bidmust be at least a predetermined amount higher than the previous bid,and must be received from a different person that the previous bid.

According to another embodiment of the present invention, the postingpayment amount may be a modified commission arrangement. For example, ifthe posting site typically charges a 10% commission on a sale, the sitemay charge a 9% commission if a reasonable floor price is selected bythe seller.

The posting payment amount may be determined based on the novelty of theitem or of the post. In one embodiment, a post of an item for sale iscompared with previously sold items of the same or similar kind. Theposting payment amount may be set greater for relatively novel items, ifit is desirable to promote novel items. For example, the posting paymentamount may be calculated in accordance with the following formula:PPA=K(A−N)in which:

-   -   PPA is the posting payment amount    -   K is a constant    -   A is a constant    -   N is the number of previously sold items of the same or similar        kind        As is apparent, in this formula PPA increases as N decreases.

Conversely, the posting payment amount may be set lower for relativelynovel items, if it is desirable to discourage novel items or promoteitems similar to those already posted. For example, the posting paymentamount may be calculated in accordance with the following formula:PPA=K(N−A)in which:

-   -   PPA is the posting payment amount    -   K is a constant    -   A is a constant    -   N is the number of previously sold items of the same or similar        kind        As is apparent, in this formula PPA increases as N increases. It        can be advantageous to impose restrictions on the range of        values PPA may assume. For example, if the formula yields        PPA>$15 for a particular value of N, then PPA may be set to $15.

The posting payment amount for a person may be determined based on thenumber of previous posts by that person. In one embodiment, the postingpayment amount may be set greater for relatively fewer posts, if it isdesirable to promote posting by people with few or no prior posts. Forexample, the posting payment amount may be calculated in accordance withthe following formula:PPA=K(A−N)in which:

-   -   PPA is the posting payment amount    -   K is a constant    -   A is a constant    -   N is the number of previous posts by the person        As is apparent, in this formula PPA increases as N decreases. It        can be advantageous to impose restrictions on the range of        values PPA may assume. For example, if the formula yields PPA<0        for a particular value of N, then PPA may be set to zero.

In a like manner, the posting payment amount may be determined based onother factors such as the weight of an item posted for sale.

The posting payment amount may also be based on (i) the final sale priceof an item being sold (e.g. $5 if sale price<$100, $10 if saleprice>$100), (ii) the commission received for selling the item, (iii) aretail price of an item for sale, and/or (iv) the number of people whoview the post.

It can be advantageous to impose restrictions on the range of values PPAmay assume. For example, PPA may be set to be no less than zero and/orno more than $100.

According to another embodiment of the present invention, the postingsite may only offer a posting payment amount if the seller indicates anacceptance of modified received information. For example, if the postingsite typically sells an item for $80, and a seller posts a similar itemwith a floor price of $100, the posting site may offer him a paymentposting amount in exchange for agreeing to reduce the floor price forthe post. Of course, a combination of modified commission arrangementsand advance payment amounts may be used to encourage potential sellers.

Note that embodiments of the present invention have been described withrespect to, by way of example, transactions transmitted using a Website. According to other embodiments of the present invention,information may instead be sent using, for example, a telephone, afacsimile machine, e-mail, a Voice Response Unit (VRU), an InteractiveVRU, a WebTV interface, or a cable television network interface.

After the posting payment amount is determined, the item may be postedby the posting site device 200 (such as by adding the item to the itemdatabase 400, and displaying advertisements for the items that are inthe item database) and the posting payment amount may be credited to theseller's account.

Payment for posting may alternatively or additionally comprise creditfor other purchases. In one embodiment, payment for posting may bedeposited into an account which may only be used to pay for items soldvia the posting site. In one embodiment, payment for posting maycomprise a coupon redeemable for merchandise from a particular merchantor set of merchants.

Payment for posting may alternatively or additionally comprise an amountapplied to the sale price of an item the person has posted for sale. Inone embodiment, the posting site may reduce the price of the sale priceof the item and pay the person the difference. In another embodiment,the posting site may add an amount to the highest bid in an auction foran item for sale. Thus, the payment rendered for the item would includepayment rendered by the highest bidder plus the posting payment amount.It may be advantageous to only add an amount to the highest bid when thehighest bid is below a predetermined amount, thereby guaranteeing aminimum sale price for the item.

In one embodiment, a seller may request to sell an item and provide iteminformation (e.g., condition, other features required to describe theitem). The posting site displays a minimum sale price for the item(e.g., $10). The item is posted for sale in an auction format, and oneor more bids for the item are received. Each bid includes a bid amount,and the bid with the highest bid amount (e.g., $8) at the end of theauction is deemed the winner. The winning bid amount (e.g., $8) isforwarded from the winner to the owner of the item, along with anadditional amount (e.g., $2) if the winning bid amount is less than theminimum sale price. For example, the owner's credit card account orother account may be credited an amount of funds (e.g., $10) in one ormore transactions. Thus, the owner is paid more than the winning bidamount in exchange for the item.

Guaranteeing a minimum sale price for an item may be based oninformation regarding the item, including but not limited to theexpected selling price, and the expected time until the item is sold.

Payment for posting may alternatively or additionally comprise featuringthe post prominently.

FIG. 9 is a flow chart illustrating a method for receiving a request tosell an item according to an embodiment of the present invention. Theflow chart in FIG. 9, as well as the other flow charts discussed herein,are not meant to imply a fixed order to the steps; embodiments of thepresent invention can be practiced in any order that is practicable. At902, a blank RTS form is output and a completed RTS form is received bythe posting site device, including, for example, an item class and type,the seller's name and financial account information as specified by theseller. If the seller has an existing reputation score with the postingsite at 904, the reputation is determined at 906. If the seller does nothave an existing reputation score at 904, a new seller profile iscreated at 908.

At 910, a blank CIS is output and a completed CIS is received by theposting site device, including, for example, the condition of the itemand any peripherals included with the item. An expected selling price(or expected final bid amount in the case of an auction) is determinedat 912, such as by examining past sales for similar items and adjustingfor the condition of the item and the peripherals included with theitem. An appropriate floor price is determined at 914, based on theexpected selling price and reputation of the seller, and a record forthe item is created in a database at 916.

FIG. 10 is a flow chart illustrating a method for determining a postingpayment amount according to an embodiment of the present invention. Theprocess may be executed, for example, when an RTS form and/or a CIS isreceived by a posting site device. A database is queried at 950 to finditems of the same or similar class and type. If it is determined that anitem of the same or similar type and class has not been sold before at952, a default posting payment amount may be credited to the financialaccount specified by the seller at 954.

If it is determined that an item of the same or similar type and classhas been sold before at 952, a base amount, weighted for the conditionof the item and peripherals included with the item, is determined andadjusted based on the reputation of the seller at 956. An appropriatefloor price is determined at 958 and a posting payment amount isdetermined and credited to the seller at 960.

The posting site may offer a posting payment amount to someone who isknown or suspected to have something which may potentially be posted.

In one embodiment, where a buyer has purchased an item (e.g. through anauction or through a classified advertisement), the buyer may be offereda posting payment amount to post that item for sale. In an embodimentwhere the item is purchased via the posting site, or via a site whichmay send item information to the posting site, the posting site may beable to readily determine information including, but not limited to, (i)the price paid for the item, (ii) the identity of the buyer, (iii)whether payment for the item has been rendered yet, (iv) a financialaccount, if any, used in rendering payment.

For example, a buyer may win an auction for an item, and be offered aposting payment amount (either before or after payment has beenrendered) in exchange for putting the item up for auction on the postingsite or on another site.

Such an embodiment is especially advantageous if the posting site candetermine that there is a significant difference between the actualselling price of the item and a subsequent (expected or likely) sellingprice of the item. An expected or likely sale price may be determinedbased on prior sales of similar or identical items, as well as based onprior bids on similar or identical items. An expected or likely saleprice may also be determined based on information derived from othersources of sale prices, such as product catalogs, expert estimates andthe like.

The posting site may offer a posting payment amount upon request. In oneembodiment, a Web page may permit entry of data that identifies an item(e.g. an ISBN number of a book). The posting site can receive this dataand respond with the posting payment amount that would be paid if suchan item was posted. Such an embodiment permits people to check whetherit would be in their interests to post.

In another embodiment, a web site may have a plurality of items forsale, such as books or electronics. Each item may be identified by, forexample, displaying the item on a Web page or a portion of a Web page.For each displayed item, various types of information may be provided(e.g., price of item, condition of item, item details).

For each displayed item, controls (e.g., buttons, hyperlinks) may beprovided that allow entry of data or commands (e.g., when a button orhyperlink is clicked on or otherwise actuated), which are typicallyreceived and processed by a Web server. For example, a Web pagedisplaying a particular item may allow a user to (i) purchase the item,(ii) add the item to a list of items that are desired by the user, and(iii) indicate that the user has the item available for sale. A Web pagedisplaying a particular item may also allow a user to indicate that theuser requests the posting payment amount that would be paid if such anitem was posted. Upon receiving such a command, the posting site devicemay respond by calculating and displaying the posting payment amount onthe Web page or on another Web page.

It can be advantageous to hinder or prevent people from unscrupulouslyreceiving posting payment amounts. For example, if the posting paymentamount is based on the sale price of an item, it may be desirable toprevent a person from purchasing his own item, thereby preventingmanipulation of the sale price of the item. Similarly, if the postingpayment amount is based on the bids received for an item, it may bedesirable to prevent a person from bidding on his own item, therebypreventing manipulation of the number or type of bids received for theitem. Similarly, if the posting payment amount is based on thereputation of a person posting, it may be desirable to prevent thatperson from manipulating his reputation by, e.g. submitting positivefeedback about himself.

The present invention has been described in terms of several embodimentssolely for the purpose of illustration. Persons skilled in the art willrecognize from this description that the invention is not limited to theembodiments described, but may be practiced with modifications andalterations limited only by the spirit and scope of the appended claims.

Further, although the examples herein are described for clarity, thoseskilled in the art will understand how to make any changes, ifnecessary, to the above-described apparatus and methods to accommodatethese and other embodiments and applications.

The seller devices and/or the buyer devices may perform some or all ofthe described functions of the posting site device. Similarly, theposting site device may perform some or all of the described functionsof the seller devices and/or the buyer devices.

Information need not be displayed via a Web page, and need not bedisplayed at all. For example, the information may be displayed via anyother means for displaying such information. Information may bedisplayed on a handheld device (e.g., PDA, cell phone), printed (e.g.,with a printer), or output in audio or verbal form (e.g., via a speaker,via voice synthesis software).

1. A method comprising: receiving data indicating an item for sale by anowner; posting the item for sale; receiving a bid amount for the item;and paying the owner more than the bid amount in exchange for the item.2. The method of claim 1, in which the step of receiving data comprisesreceiving the data via a Web page.
 3. The method of claim 1, in whichthe step of posting the item for sale comprises: generating a Web pageindicating the item; and making the Web page accessible for display. 4.The method of claim 1, in which the step of paying the owner more thanthe bid amount comprises: forwarding the bid amount from a third partyto the owner; and paying the owner an additional amount.
 5. The methodof claim 1, further comprising displaying a minimum sale price for theitem.
 6. The method of claim 1, in which the step of paying the ownermore than the bid amount comprises: crediting an account of the owner.7. The method of claim 6, in which the step of crediting an account ofthe owner comprises crediting the account by a minimum sale price in onetransaction.
 8. A method comprising: receiving data indicating an itemfor sale by an owner; determining a posting payment amount based on anovelty of the item; posting the item for sale; and paying the owner theposting payment amount.
 9. The method of claim 13, in which the step ofdetermining a posting payment amount comprises determining a number ofpreviously-sold similar items.
 10. A method comprising: displaying afirst Web page that indicates an item for sale, in which the Web pageincludes at least one button; receiving data that indicates actuation ofthe button; determining a posting payment amount for the item; anddisplaying the posting payment amount on a second Web page.